STAND. COM. REP. NO. 3390

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2443
                                        H.D. 2




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 2443, H.D. 2, entitled: 

     "A BILL FOR AN ACT RELATING TO HIGH TECHNOLOGY DEVELOPMENT
     CORPORATION,"

begs leave to report as follows:

     The purpose of this bill is to encourage high technology
development ventures in the State.

     In particular, this bill amends chapter 206M, Hawaii Revised
Statutes, to allow the High Technology Development Corporation to
issue special purpose revenue bonds and special facility revenue
bonds to develop high technology projects.

     Your Committee agrees with the intent of this bill, and
finds that it will facilitate the development of a technology
industry in the State by making bonds available to private
developers to build the infrastructure necessary for technology
companies and for specific types of high technology activities.
Your Committee finds that building the infrastructure needed to
support the expansion of local high technology companies is a
critical component in the State's drive to compete in today's new
economy, which has been fueled by the high technology industry.


 
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                                   STAND. COM. REP. NO. 3390
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     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
2443, H.D. 2, and recommends that it pass Third Reading.

                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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